Cold-Rolled Steel From China Slapped With 265% Anti-Dumping Duties

Metal Miner ^ | 3/2/2016 | Jeff Yoders

[mac_truck]

The Department of Commerce today announced its affirmative preliminary determinations in the anti-dumping duty investigations of imports of cold-rolled steel flat products from Brazil, China, India, Japan, South Korea, Russia, and the United Kingdom.

In the Brazil investigation, mandatory respondent Companhia Siderurgica Nacional received a calculated preliminary dumping margin of 38.93%. The second mandatory respondent, Usiminas Siderurgicas de Minas Gerais, did not respond to all of Commerce’s requests for information, and therefore received a dumping margin based on adverse facts available. Usiminas and all other producers/exporters in Brazil also received a preliminary dumping margin of 38.93%. China Receives Heavy Duties

In the China investigation, no company responded to Commerce’s requests for information. Accordingly, all producers/exporters in China received a whopping preliminary dumping margin of 265.79%, based on adverse facts available.

[Carry_Okie]

Not all good news. This is a big supply surcharge for a lot of manufacturers. I doubt domestic suppliers can make up the difference.

[Buckeye McFrog]

Some Free Trade animals are more equal than others...

[SubMareener]

The Trump Effect in action!

It appears that, even though he is still just a candidate and not the President, Donald Trump’s foreign policy, the Trump Doctrine, is being implemented on the world stage! Consider.

Trump formally announced his candidacy for the presidency in the 2016 election on June 16, 2015.

https://en.wikipedia.org/wiki/Donald_Trump

He sat down with Bill O’Reilly in June 16, 2015 and said:

“I say that you can defeat ISIS by taking their wealth,” Trump told the Fox News Channel star. “Take back the oil. Once you go over and take back that oil, they have nothing. You bomb the hell out of them, and then you encircle it, and then you go in. And you let Mobil go in, and you let our great oil companies go in. Once you take that oil, they have nothing left.”

http://deadline.com/2015/06/donald-trump-isis-bill-oreilly-jeb-bush-hillary-clinton-video-1201445840/

The Russian military intervention in the Syrian Civil War began on 30 September 2015, following a formal request by the Syrian government for military help against rebel and jihadist groups.

https://en.wikipedia.org/wiki/Russian_military_intervention_in_the_Syrian_Civil_War

Around December 17, 2015, Putin offered high praise for the billionaire businessman-turned-Republican presidential front-runner on Thursday during an annual news conference with reporters.

“He is a bright and talented person without any doubt,” Putin said, adding that Trump is “an outstanding and talented personality.”

And in remarks closely mirroring Trump’s assessment of the campaign, the Russian leader called Trump “the absolute leader of the presidential race,” according to the Russian TASS news agency.

http://www.cnn.com/2015/12/17/politics/russia-putin-trump/index.html

Now, in March 2016, the Obama Administration is implementing Donald Trump’s Un-Fair Trade Tarriff policy by slapping 265.7% anti-dumping duties on China.

https://agmetalminer.com/2016/03/02/cold-rolled-steel-from-china-slapped-with-265-anti-dumping-duties/

[stocksthatgoup]

Sounds like Commerse has recently opened its eyes. Wonder why?

[captain_dave]

Officials at Commerce probably see the handwriting on the wall.

[stocksthatgoup]

But perhaps they should spend more time on finished product Could Obama be looking to start a Trade War

[MNlurker]

Have to hit the entire industry or it does no good at all.

The shell game continues...

[Carry_Okie]

Sounds like Commerse has recently opened its eyes. Wonder why?

Supply chain interruptions hurt the customer more than the supplier. Look for a fat contribution to Democrats from an investor in an American rolling mill.

[PIF]

Don’t worry be happy - Trump will save us all through imposed tariffs and fines (dumping margins) and get America back to work with higher prices for everything - the working poor just love higher prices because the Donald has saved them from crony-capitalism by taxing malignant foreign entities. Watch out Apple, he’s coming for you next, right after he finishes imposing tariffs other silicon hardware manufacturers. All Hail the Donald!

[Agnes Heep]

Great news for domestic companies that use steel.

[PghBaldy]

There was a time, before the income tax, when tariffs and like taxes funded D.C.

[joe fonebone]

the steel Nazi’s are at it again..
here is how the game is played...
a load of beams comes in from, lets say, Poland
the American steel Nazi’s cry “dumping”..
the load is held in port pending the investigation..

meanwhile, the American manufacturers raise the hell out of the price of domestic beams...

upon completion of the investigation (not preliminary but final) it is found there has been no dumping..
the beams are released and American manufacturers lower their price to complete...

then, a load of plate comes in from argentina..
process repeats itself over and over again..

[central_va]

Not all good news. This is a big supply surcharge for a lot of manufacturers. I doubt domestic suppliers can make up the difference.

Traitor.

[central_va]

I never knew our government actually acted on behalf of the best interests of the USA. Who knew the corruption wasn’t 100%.

[Carry_Okie]

Traitor.

Specify. Ever been in manufacturing? I have. Ever done supply chain management? I have. Let's see if you know what you are talking about.

[PIF]

And that was ended because of all the trade wars tariffs create including fueling real wars.

[Teacher317]

Now, in March 2016, the Obama Administration is implementing Donald Trump’s Un-Fair Trade Tarriff policy by slapping 265.7% anti-dumping duties on China.

Which ends up being paid by us. Domestic production will not make up for that. Brilliant! Higher prices, inflation, interest rates rise, and servicing the US debt load becomes a real issue (even more so for the Japanese).

But if it is attributed to Trump, it must be good. If it wasn't because of Trump, then it must be bad.

[MNlurker]

Not if its not done across the board.

So a small part of the issue, in this case specifically CR steel got protection. The response will be:

Now coated products will come in cheaper (galvanized, aluminized, etc). The few domestic producers left of that will be hurt immensely.

These same countries will react by sending in tubing and additional fabricated parts that use CR steel in instead. All of the tube mills that make CR tubing will be hurt accordingly.

So the mills that got protection can tout their victory and increase their price here for steel...the next level down of consumers of steel (tubers, ect) will instead be attacked as soon as the dumping countries can switch the loads hitting the docks of our ports.

No victory to celebrate if you’re trying to save manufacturing here as a whole.

[hoosierham]

When there are NO American factories the working poor will be so much better?

And the foreign interests will not raise prices once they have destroyed our industries?

I suppose theorectically ,a total open borders/no tariffs ANYWHERE would eventually result in prosperity for all.But the reality of those pesky dictators,cult of death fanatics, and so on MIGHT make that difficult to achieve.